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Loveanurse1

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1 car dealership=5 Hard Inquiries=dropped my score 8 points! Can these be consolidated to 1?
I had no clue multiple inquiries were made and I was ignorant to the effect it would cause on my report. Any way to fix this?

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Dealershiups often run many more than that in order to get you the best rates/loans. Auto inquires within a short period of time are all grouped and considered 1 total inquiry.

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Don't worry about this. Most FICO scoring systems will count multiple auto inquires as only one inquiry when it comes to scoring. You will still see all of the inquiries listed on your reports, however, they are only scored as one (not sure about on here with the Vantage system, but it doesn't really matter anyway). An 8 pt drop is nothing to be concerned about anyway. It is a good thing to have your credit app run through multiple lenders when buying an auto, it helps you get the best rate. I would much rather see a few more inquiries and save money. The other way that this helps is that it helps get you approved. A pool of one lender may say denied, but a pool of seven lenders has better odds that one or more will say yes.

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